MINUTES OF MEETING
STATE EMPLOYEES RETIREMENT COMMISSION
OFFICE OF THE STATE COMPTROLLER
55 ELM STREET
HARTFORD, CONNECTICUT 06106

May 17, 2012

TRUSTEES PRESENT
Peter R. Blum
Bob Baus
Charles Casella
Sal Luciano
Claude Poulin
Steve Greatorex
James Dzurenda
Robert Coffey
Richard Cosgrove
Ronald McLellan
Linda Yelmini
Paul Fortier
Thomas Culley
Sandra Fae Brown-Brewton

ABSENT
Michael Carey

EX OFFICIO MEMBERS
Deputy Comptroller Martha Carlson, Designee for State Comptroller Kevin Lembo
Lee Ann Palladino, CIO, Designee for State Treasurer Denise Nappier

MUNICIPAL LIAISON
Thomas Landry

OTHERS PRESENT
Brenda Halpin, Director, Retirement Services Division
Attorney Helen Kemp, Asst. Director and Division Counsel, Retirement Services Division
Colin Newman, Asst. Director, Retirement Services Division
Natalie Braswell, Assistant State Comptroller

GUESTS
George Spurlock, CEUI
Joseph Lantieri
Katrina Clingerman, Ice Miller
Mary Beth Braitman, Ice Miller

CALL TO ORDER
The Chairman called the Commission to order at 9:07 am

DIVISION DIRECTOR'S ADMINISTRATIVE AND SUBCOMMITTEE REPORTS

I have provided a legislative update document for your review.

Following the close of the May 2012 retirement payroll, the current backlog of unfinalized retirement records is approximately 12,883. The Division processed 81 new retirees (70 normal, 11 disabilities) to the payroll for May. Finalizations for the month were 183.

Pending Disability Applications as of April 30, 2012

The next available meeting for scheduling is August 2012.

An email was sent to all Trustees regarding the Attorney Client Privilege, thank you for your response to my request and the approval of sharing the documents with the Retirement Services Division Management Team which includes myself and the Assistant Division Directors.

We were granted approval to hire two new Assistant Division Directors and they will be starting in the month of June. I will be able to introduce them at the June 21st meeting. We have also been interviewing multiple candidates for four different positions, two RBO's - one for the Database Unit and one for the Payroll Unit. We are also hiring an IT Technician Trainee for the Data Processing Unit and one part-time Duplicating Technician 1 for the Document Imaging Unit.

We are also in the processing of issuing a Request for Information (RFI) to determine the cost and the resources needed to implement the PeopleSoft Enterprise Pension Administration for Public Sector Module.

NEW MATTERS

1.REQUEST COMMISSION APPROVAL OF THE APRIL 19, 2012 MINUTES
Mr. Luciano moved, seconded by Mr. Poulin to approve the April 19, 2012 minutes.All voted in favor

Unanimous Decision

2.REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEESRETIREMENT COMMISSION CHAIRMAN'S PER DIEM EXPENSESREIMBURSEMENT Mr. Luciano moved, seconded by Mr. Poulin to approve theState Employees Retirement Commission Chairman's Per Diem Expensesreimbursements. All voted in favor

Unanimous Decision

3.REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEESRETIREMENT SYSTEM SERVICE RETIREMENTS FOR THE MONTH OFAPRIL 2012 Mr. Luciano moved, seconded by Mr. Greatorex to approve the StateEmployees Retirement System Service Retirements for the month of April 2012.All voted in favor

Unanimous Decision

4. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEESRETIREMENT SYSTEM VOLUNTARY PENDING DISABILITY RETIREMENTSFOR THE MONTH OF APRIL 2012 Mr. Luciano moved, seconded by Mr. Greatorex to approve the State Employees Retirement System Voluntary Pending Disability Retirements for the month of April 2012. All voted in favor

Unanimous Decision

5.REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEESRETIREMENT SYSTEM DISABILITY RETIREMENTS FOR THE MONTH OF APRIL 2012 Mr. Luciano moved, seconded by Mr. Greatorex to approve the StateEmployees Retirement System Disability Retirements for the month of April 2012.All voted in favor

Unanimous Decision

6.REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEESRETIREMENT SYSTEM RETROACTIVE RETIREMENTS FOR THE MONTH OFAPRIL 2012 Mr. Luciano moved, seconded by Mr. Greatorex to approve the StateEmployees Retirement System Retroactive Retirements for the month of April 2012.All voted in favor

Unanimous Decision

7.REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEESRETIREMENT SYSTEM PRE RETIREMENT DEATH BENEFIT RETIREMENTSFOR THE MONTH OF APRIL 2012 Mr. Luciano moved, seconded by Mr. Greatorex to approve the State Employees Retirement System Pre Retirement Death Benefit Retirements for the month of April 2012. All in favor

Unanimous Decision

8.REQUEST COMMISSION APPROVAL OF THE CONNECTICUT PROBATEJUDGES AND EMPLOYEES RETIREMENT SYSTEM RETIREMENTS Mr. Luciano moved, seconded by Mr. Greatorex to approve the Connecticut Probate Judges and Employees Retirement System Retirements. All voted in favor

Unanimous Decision

9.REQUEST COMMISSION APPROVAL OF THE CONNECTICUT PROBATEJUDGES AND EMPLOYEES RETIREMENT FUND PERSONNEL EXPENSESFOR THE MONTH OF APRIL 2012 Mr. Luciano moved, seconded by Mr. Greatorex to approve the Connecticut Probate Judges and Employees Retirement Fund Personnel Expenses for the month of April 2012. All voted in favor

Unanimous Decision

10.REQUEST COMMISSION APPROVAL OF THE MUNICIPAL EMPLOYEERETIREMENT SYSTEM RETIREMENTS Mr. Luciano moved, seconded by Mr.Greatorex to approve the Municipal Employee Retirement System Retirements. All voted in favor

Unanimous Decision

11.REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEESRETIREMENT COMMISSION MANAGEMENT TRUSTEE'S PER DIEM AND TRAVEL EXPENSES REIMBURSEMENTS FOR THE MONTH OF APRIL 2012 Mr. Luciano moved, seconded by Mr. Greatorex to approve the State EmployeesRetirement Commission Management Trustee's Per Diem and Travel ExpensesReimbursements for the month of April 2012. All voted in favor,Mr. Baus abstained

Majority Decision

12. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEESRETIREMENT COMMISSION UNION TRUSTEE'S PER DIEM AND TRAVEL EXPENSES REIMBURSEMENTS FOR THE MONTH OF APRIL 2012 Mr. Luciano moved, seconded by Mr. Baus to approve the State Employees Retirement Commission Union Trustee's Per Diem and Travel Expenses Reimbursements for the month of April 2012. All voted in favor, Mr. Poulin abstained

Majority Decision

13.REQUEST COMMISSION APPROVAL OF PARTICIPATION OF CERTAIN HAMDEN BOARD OF EDUCATION EMPLOYEES, UNION GROUP UPSEU, IN THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM EFFECTIVE JULY 1, 2012 Mr. Luciano moved, seconded by Mr. Greatorex to approve the participation of certain Hamden Board of Education Employees, Union Group UPSEU in the Connecticut Municipal Employees Retirement System effective July 1, 2012. All voted in favor

Unanimous Decision

14.REQUEST COMMISSION APPROVAL OF PARTICIPATION OF CERTAIN HAMDEN BOARD OF EDUCATION EMPLOYEES, NON-UNION, IN THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM EFFECTIVE JULY 1, 2012 Mr. Luciano moved, seconded by Mr. Greatorex to approve the participation of certain Hamden Board of Education Employees, NON-UNION, in the Connecticut Municipal Employees Retirement System, effective July 1, 2012. All voted in favor

Unanimous Decision

15.REQUEST COMMISSION APPROVAL OF PARTICIPATION OF CERTAIN HAMDEN BOARD OF EDUCATION EMPLOYEES, UNION GROUP AFSCME, IN THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM, EFFECTIVE JULY 1, 2012 Mr. Luciano moved, seconded by Mr. Greatorex to approve the participation of certain Hamden Board of Education Employees, Union Group AFSCME, in the Connecticut Municipal Employees Retirement System, effective July 1, 2012. All voted in favor

Unanimous Decision

16.DISCUSSION WITH OUTSIDE COUNSEL AS TO ISSUES, STRATEGY AND POSSIBLE ACTION ON PLAN ADMINISTRATION AND QUALIFICATION UNDER SECTIONS 401 (a) AND 415 Mr. Fortier moved, seconded by Mr. Casella to go into Executive Session at 9:25 a.m. with Ice Miller counsel, Division Counsel, OSC General Counsel and Division staff present to discuss the pension/tax advice received from Ice Miller on issues arising from and related to IRC 401(a) and 415 and follow up on potential action items. All voted in favor

Unanimous Decision

Ms. Yelmini moved, seconded by Mr. Luciano to come out of Executive Session at 10:45 a.m. No motions were made outside of executive session.

ADJOURNMENT Ms. Linda Yelmini moved, seconded by Mr. Sal Luciano to adjourn the meeting at 10:47 a.m. All voted in favor

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